23k bitcoins (assuming it's real, which I have doubts about). Must have hurt to have missed the $30/btc bubble. At $4.75 each it's still a nice amount of money. Consider cashing out before it will only buy a new laptop.

Which means they'd be able to buy back in, get the same (or more coins) AND wind up with more dollars. I don't see a downside. The only ones out money in that scenario are the get rich quick speculators.

Someone just threw 100k on mtgox. That was an excellent selling opportunity, but that cash is being grabbed fast.

I stopped mining, but if I hadn't I'd be selling into that "rally". I don't have a very accurate estimate of how much total $ have ever gone into bitcoin, but using a model which assumes it's more profitable to buy than mine and assuming more $ was spent to buy bitcoins directly than provide the network it's going to be somewhere between 4 and 8 million. So even if the LATE adopters cash out to pay for power and hardware it's going to be a bloodbath.

At a hair below $5/btc we're still talking over $35,000 a day to feed this beast. Even if the vast majority of miners are content to be bagholders near term it's still BTC out there, available to be sold on the market. Those miners may not wish to sell at $32, $24, $22, $17.5, $15, $14, $13, $11, $10, $9, $7, $5 but they may be willing to sell at $.10.

Why even bother selling at $0.10. At that point i'd just keep my coins, and pick up a couple thousand as well.

Logically it does not make sense ,but if you felt that the value of the coin could drop lower or to nothing you might be inclined to sell it. This is highly unlikely since simply you would sell it at a higher value lets say 1-2$. Some could be "stuck" if some how millions of coins where sold at once ,but I am sure the price would rebound.